PwC predicts cuts will cost 1m jobs - papers

Losing 500,000 private sector jobs will mean in some parts of the UK, one in 20 people will be made redundant as the coalition shaves £83bn off public spending, the Telegraph reports Job losses will mean a dramatic fall in private sector output of £46bn, and the sector will only be able to generate a million new jobs in four years, but PwC analysts say will not be enough to drag the country back into recession. In June, the Office for Budget Responsibility said the private sector would create 1.6 million jobs by 2015. Business services and the construction would be hit hardest, PwC...